Egypt: SCZONE lures $4.6bln investments in 18 months

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The General Authority for Suez Canal Economic Zone (SCZONE) has attracted $4.6 billion worth of investments during the last 18 months, the authority’s Chairman Waleid Gamaleldien stated.

These investments were directed toward 90 industrial projects and seven projects at the SCZONE’s ports, Gamaleldien noted.

During the first half (H1) of the current fiscal year (FY), the authority granted final approvals to 48 projects with total investments of $991 million.

Moreover, another 42 projects worth $908 million in investments obtained preliminary approvals.

These investments are from a number of countries, including China, Saudi Arabia, India, Türkiye, Germany, and Japan.

It is worth mentioning that the authority garnered EGP 4.3 billion in revenues during the first half (H1) of the fiscal year (FY) 2023/2024, up 70% year on year (YoY) from EGP 2.6 billion.